§ 2306
71 words·~1 min read·
/ca/corporations-code/2306A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 317 of the new law governs any proposed indemnification by a corporation after the effective date, whether the events upon which the indemnification is based occurred before or after the effective date. Any statement relating to indemnification contained in the articles or bylaws of a corporation on the effective date shall not be construed as limiting the indemnification permitted by Section 317 unless it is expressly stated as so intended.